Data released a few moments ago

  • 4.7% prev
  • adj household lending growth +1.4% yy vs 1.4% Dec
  • non-financial corp lending growth +0.6% yy vs +0.3% Dec

M3 money supply levelling out in recent months after the ECB led rise of 2015.

Quite where the money is currently going will be on the central bank's agenda as we head to ward the March meeting.